“KAR is focused on leveraging the best in digital technology to help our customers operate more efficiently and effectively,” said Peter Kelly, KAR’s president of digital services. “Clearplan quickly established itself as a market leader by developing a data-driven, user-friendly communications platform. By integrating Clearplan with our existing capabilities, we will be able to offer smarter, faster and more convenient solutions that serve the entire asset recovery ecosystem.”

Clearplan was launched in 2014 with a goal of leveraging technology to streamline the vehicle asset recovery process. Today, Clearplan connects thousands of recovery agents and automotive lenders and enables real-time communication to more efficiently list, log and track vehicle recovery activity. These capabilities are highly complementary to KAR’s RDN subsidiary, which already provides specialized software and data solutions to customers across repossession and disposition value chain. Together, the companies will deliver more intelligent tools and services with increased convenience, accuracy and transparency.

“We are thrilled to extend and strengthen our partnership with RDN by becoming part of the KAR Auction Services organization,” said Justin Zane, Clearplan co-founder and president. “We look forward to serving our shared customers and delivering the next generation of innovative, technology enabled solutions to our industry.”

Clearplan will continue to operate from their Nevada headquarters and will become part of KAR’s digital services group of companies.

PAR North America (PAR) launches its new web-based self-service portal with real-time access to PAR’s compliance data and the compliance data of more than 600 vehicle recovery vendors across the U.S. PAR is a leading provider of vehicle transition services in the U.S. with coast-to-coast solutions for recovery management, skip tracing, remarketing and title services. The newly launched Platinum Compliance offers the vehicle recovery industry’s newest, most extensive compliance, due diligence, and transparency tool in one easy-to-use dashboard.

“Our customers are facing increased scrutiny and heightened regulatory requirements,” said Lisa Scott, PAR president. “Platinum Compliance gives our customers the peace of mind that only qualified, experienced, and trained recovery vendors are working their assignments. Never has our industry had a more comprehensive real-time database of due diligence and compliance documentation — including current state-level recovery vendor requirements across all 50 states.”

Through the Platinum Compliance portal, customers can access due diligence and supporting compliance documentation for all recovery vendors. The comprehensive real-time database includes state-level recovery vendor requirements, and all PAR and vendor due diligence including insurance certificates, relevant licensing, operational and enterprise policies. Streamlining what was once an onerous process for collecting, reviewing and storing information, audits are now faster and more efficient.

The all-inclusive dashboard automates reminders and facilitates fast and easy uploading of updated compliance documentation allowing recovery vendors to remain in good standing. Only recovery vendors who are Platinum Compliant with PAR’s compliance checklist may receive recovery assignments.

PAR is a business unit of KAR, a global automotive company powering the world’s most trusted vehicle marketplaces through innovation, technology and people.

###

]]>TradeRev Unveils New MOVE METAL® Service Options and TradeReady Seller Protectionhttps://karauctionservices.com/traderev-unveils-new-move-metal-service-options-and-tradeready-seller-protection/
Wed, 17 Oct 2018 13:15:45 +0000http://karauctionservices.com/?p=4655MORE >]]>Customized Service Levels and No Arbitration Guarantee Help Dealers Save Time and Money

TradeRev, North America’s leading dealer-to-dealer digital auction platform, announced the release of the company’s new MOVE METAL® service options for sellers. The offering includes three customized tiers ranging from self-service to full-service, all aimed at helping dealers sell unwanted inventory faster and easier. Also offered is the company’s new TradeReadysm seller protection, an optional service that guarantees no post-sale returns or arbitrations. All service levels include access to TradeRev’s mobile app and desktop marketplace that facilitates live-bidding, one-hour wholesale auctions among thousands of dealers from coast-to-coast.

“TradeRev knows every dealer is unique, and that selling and sourcing inventory is never one-size-fits-all,” said Becca Polak, TradeRev president and chief legal officer for TradeRev’s parent company, KAR Auction Services, Inc. (NYSE:KAR). “Our new service levels put dealers in control of their TradeRev auction experience and help them sell their way all day, every day. And to make sure every sale is final, our optional TradeReadysm seller protection gives sold vehicles an arbitration-free, no-hassle, one-way ticket off the lot.”

All TradeRev registered sellers receive in-dealership onboarding and training as well as hands-on support planning and promoting the dealership’s “first sale” event. Sellers at the general TradeRev level image and launch their own vehicles using the TradeRev mobile app and the company’s powerful H artificial intelligence technology. For dealers who upgrade to the VIP level, TradeRev’s field crew will come to their lot to image vehicles, perform detailed inspections and complete onsite condition reports. And for dealers who want permanent peace-of-mind on every sale, TradeRev’s all-access level provides the additional power of TradeReadysm seller protection.

“On the lot or on the phone, the TradeRev crew is all about hustle – we’ll do everything we can to help our dealers win,” said Keith Crerar, executive vice president of US sales and global operations for TradeRev. “If you love imaging and launching your own trades, keep doing what you’re doing – our coast-to-coast team is standing by to help whenever you need it. But if you’re short on time or manpower, just upgrade your plan, give us the keys and we’ll handle the rest.”

TradeRev’s MOVE METAL service offerings also include two optional add-on services that can be applied on a vehicle-by-vehicle basis. The negotiation feature allows sellers to extend the auction time and negotiate one-on-one with the highest bidder directly through the app. And for dealers who select the new lot sweep service, TradeRev will haul sold vehicles off their lot to an advanced logistics center to clear space for new dealer inventory.

TradeRev’s new MOVE METAL service options will be available to qualifying US-based dealers nationwide beginning November 1, 2018. Interested dealers can visit www.TradeRev.com and click “Join Now” to enroll or contact TradeRev customer service at 844-881-8738 to upgrade their current plan.

One year after announcing its $80 million investment in central Indiana, KAR Auction Services, Inc. (NYSE: KAR) today announced its new Carmel, Indiana-based corporate headquarters and campus is on track for summer 2019 completion. Construction of the 250,000 square foot office building featuring an open floorplan and broad collaborative workspaces has progressed smoothly. As construction on the new KAR global headquarters continues, the company is also further investing in its workforce with more than 1,200 current job openings in North America, of which more than 100 will be based in Indiana.

“We are creating an environment that fosters creativity, innovation and collaboration in order to attract top-notch talent to further grow our technology, fully integrate our data capabilities and take our digital and online platforms to the next level,” said Jim Hallett, chairman and CEO of KAR. “Our new campus will give us the additional space necessary to increase our workforce as we expand our global footprint. Its modern workplace design will inspire the entrepreneurial spirit that has helped us succeed.”

KAR, a global automotive company powering the world’s most trusted vehicle marketplaces through innovation, technology and people has invested heavily in the digital transformation of the auto remarketing industry. Over the past two years, the company has made data, mobility and digital company acquisitions. Approximately 140 of the current openings are technology-focused roles such at developers and IT professionals – nearly half will be based in Indiana. The company’s new headquarters and campus will house corporate and business unit functions as well as innovation, technology and data as a service staff.

For nearly 30 years, KAR has made central Indiana home. Its new corporate offices will be located two miles south of KAR’s current headquarters on the northeast corner of Illinois and W. 111th streets, reaffirming the company’s longstanding commitment to Carmel and central Indiana.

The development team assisting KAR with this project includes: CBRE Group LLC, Ginovus LLC, Ice Miller, PURE Development, RATIO Architects, Shiel Sexton and US Realty.

Steve Hood, vice president of facilities and workplace at KAR with KAR CEO Jim Hallett

]]>TradeRev Accelerates Expansion of North American Footprinthttps://karauctionservices.com/traderev-accelerates-expansion-of-north-american-footprint/
Tue, 25 Sep 2018 13:38:05 +0000http://karauctionservices.com/?p=4661MORE >]]>Digital Auction Solution and Dealer Support Deployed to Five New Markets

TradeRev, North America’s leading dealer-to-dealer digital auction platform announced its expansion into five new markets across the United States. TradeRev is a business unit of global remarketing and technology solutions provider KAR Auction Services, Inc. (NYSE: KAR). Dealers in Louisville and Lexington, Kentucky, and Nashville, Memphis and Knoxville, Tennessee can now use the TradeRev mobile app and desktop solution to facilitate and participate in live bidding, one-hour wholesale vehicle auctions. Enrolled dealers will also have access to the company’s H-powered AI technology and an active network of thousands of buying and selling dealerships.

“TradeRev and KAR continue to make meaningful investments to accelerate the digital revolution and meet increasing customer demand for our digital auction solution,” said Becca Polak, president of TradeRev. “We’re excited to help dealers in Kentucky and Tennessee expand their marketplace and sell and source inventory anytime, anywhere from coast-to-coast. And together with our sister companies at KAR, we’re also able to deliver seamlessly integrated floorplan financing and logistics solutions that simplify and streamline the auction experience.”

As part of this market expansion, TradeRev is adding in-market sales leadership and field personnel to keep up with high enrollment demand, provide personalized dealer training and assist dealers with loading and launching cars. The markets will also be supported by TradeRev’s English, Spanish and French speaking customer service teams and a data-driven inside sales department that will ensure local dealers are rapidly integrated into TradeRev’s broad North American marketplace.

“When we launch TradeRev into a market — we make a long-term commitment to our dealer partners,” said Keith Crerar, executive vice president of U.S. sales and global operations for TradeRev. “We don’t just airdrop a single salesperson — we deeply embed experienced, multi-functional teams that understand the auction business and the unique local needs of our dealers. Then we arm them with the industry’s best technology, data and intelligence to help our dealers move metal faster, easier and smarter than ever before.”

]]>KAR Auction Services Partners with Jefferson Awards Foundationhttps://karauctionservices.com/kar-auction-services-partners-with-jefferson-awards-foundation/
Thu, 30 Aug 2018 14:22:59 +0000http://karauctionservices.com/?p=4615MORE >]]>KAR Auction Services (NYSE: KAR), a global vehicle remarketing and technology solutions provider, announces its partnership with the Jefferson Awards Foundation. The Jefferson Awards Foundation is one of the most prestigious and longest-standing organizations dedicated to celebrating and inspiring public service. As a Champion partner, KAR will support and promote the Jefferson Awards’ mission by recognizing employees for volunteer work in their communities.

“Giving back to the community is one of KAR’s core values, and something we take very seriously in the areas where we work and live,” said Jim Hallett, CEO and Chairman of the Board of KAR Auction Services. “We know that KAR employees are active in their communities in many ways, donating their personal time for local organizations who rely on volunteers. I look forward to celebrating our employees who give back in such meaningful ways and personally thanking them for making a difference.”

Annually, KAR will recognize up to six employees who have been nominated by their co-workers for outstanding volunteerism and commitment to community service. KAR’s first awardees will be announced in early 2019. From these, one winner will be selected to represent KAR at the annual Jefferson Awards Foundation National Ceremony in Washington, D.C. The program is open to full- and part-time employees of KAR and its business units in all locations.

“We are thrilled to partner with KAR Auction Services and welcome them into our Champions program,” said Hillary Schafer, CEO of the Jefferson Awards Foundation. “By celebrating outstanding service with employees who impact their communities, KAR Auction Services is setting an incredible example for organizations across the country and will impact lives for years to come.”

The Jefferson Awards were established in 1972 by Jacqueline Kennedy Onassis, Senator Robert Taft Jr., and Mr. Sam Beard to celebrate unsung heroes for selfless work in their communities and to embolden others to take action. Since its inception, JAF has recognized more than 61,000 people for volunteerism.

CARMEL, Ind. – August 29, 2018 – KAR Auction Services, Inc. (NYSE: KAR), a global vehicle remarketing and technology solutions provider, today announced its participation in the following investor conference which will also be available via live audio webcast:

– Goldman Sachs 25th Annual Global Retailing Conference

– Jim Hallett, chairman and chief executive officer, and Eric Loughmiller, executive vice president and chief financial officer, will speak on Wednesday, September 5th at 1:45 pm Eastern. Also in attendance will be Mike Eliason, treasurer and vice president Investor Relations.

Webcast of the presentation will be made available under the investor relations section of the company’s website, www.karauctionservices.com.

About KAR Auction Services
KAR Auction Services (NYSE: KAR) provides sellers and buyers across the global wholesale used vehicle industry with innovative, technology-driven remarketing solutions. KAR’s unique end-to-end platform supports whole car, salvage, financing, logistics and other ancillary and related services, including the sale of more than 5.5 million units valued at over $40 billion through our auctions. Our integrated physical, online and mobile marketplaces reduce risk, improve transparency and streamline transactions for customers in 120 countries. Headquartered in Carmel, Ind., KAR has approximately 17,500 employees across the United States, Canada, Mexico and the United Kingdom. For more information go to www.karauctionservices.com. For the latest KAR news follow us on Twitter @KARSpeaks.

ADESA, a business unit of KAR Auction Services, Inc. (NYSE: KAR), has launched a new return guarantee product called ADESA Assurance. The new service allows participating dealers to return eligible vehicles within 21-days for a full refund of the purchase price and associated buy fee. The program is available to dealers at all 60 ADESA physical auction locations in the U.S. as well as DealerBlock and LiveBlock, ADESA’s online and simulcast auction platforms.

“Everything we do at ADESA is aimed at simplifying the auction experience for our customers,” said John Hammer, president of ADESA. “ADESA Assurance gives dealers greater confidence and flexibility in their purchases to help them keep pace with the always changing market conditions. By reducing the risk of wholesale transactions, ADESA Assurance will help our dealers stay fast, focused and successful.”

Across ADESA, there are thousands of vehicles up for auction at any given time, the duration of which can vary from a few days to just seconds. To capture the inventory they want, dealers often make purchasing decisions with incomplete or deficient information regarding market conditions, a vehicle’s condition or potential reconditioning needs. The ability to return a vehicle through ADESA Assurance is aimed at alleviating the uncertainty of these transactions and helping dealers deploy their capital and shift their inventory more quickly.

For customers who enroll in the subscription service, ADESA Assurance will be automatically applied at the time of purchase to all eligible vehicles purchased at ADESA physical auctions, LiveBlock, ADESA UVA and ADESA mobile auctions. Buyers who only purchase DealerBlock vehicles on ADESA.com can add protection on a vehicle-by-vehicle basis at the time of check-out.

ADESA Assurance applies to vehicles 21 years or newer with a maximum sale price below $100,000 and fewer than 250,000 miles on the odometer. For additional details or to enroll in the subscription service, visit ADESA.com/Assurance.

About KAR Auction Services
KAR Auction Services (NYSE: KAR) provides sellers and buyers across the global wholesale used vehicle industry with innovative, technology-driven remarketing solutions. KAR’s unique end-to-end platform supports whole car, salvage, financing, logistics and other ancillary and related services, including the sale of more than 5.5 million units valued at over $40 billion through our auctions. Our integrated physical, online and mobile marketplaces reduce risk, improve transparency and streamline transactions for customers in 120 countries. Headquartered in Carmel, Ind., KAR has approximately 17,500 employees across the United States, Canada, Mexico and the United Kingdom. For more information go to www.karauctionservices.com. For the latest KAR news follow us on Twitter @KARSpeaks.

Field will be responsible for leading PWI’s operations and digital and mobile product development and advancing the company’s market growth strategies. He will be based at KAR’s global headquarters in Carmel, Indiana.

“Edmund joins PWI at a time of great opportunity, as the company nears the completion of our nationwide expansion by the end of the year,” said Paul Kramarz, senior vice president of risk at KAR business unit, AFC. “Edmund’s extensive experience and leadership skills will be instrumental in PWI aligning with KAR strategic initiatives and achieving a leading position within the industry.”

With more than 20 years of automotive industry experience, Field joined KAR earlier this year as the director of new product development. Before coming to KAR, Field was at Volkswagen Group and VW Credit, Inc. He supported the areas of insurance, sales and business development, new product development, contact center operations, fleet management and manufacturing.

During his time at e During hisVW Credit, Field was responsible for the development and launch of Volkswagen Financial Protection Services as a start-up insurance entity selling and administering a full suite of insurance protection products to Audi, VW and Ducati dealers in the U.S. market. Field also held several management roles at VCI’s customer service center in Libertyville, Illinois.

###

Edmund Field, newly named president of Preferred Warranties, Inc. (PWI)